Michael Page sees profit rise as job market picks-up

WHITE collar recruitement specialist Michael Page said first-half profit climbed 42 per cent compared with last year as job flow in almost all markets, especially outside Britain, improved.

Michael Page, which finds jobs for people in financial, accounting and legal services, said pre-tax profit was up to £61.4m in the six months to 30 June against £43.2m for the same period last year.

Chief executive Steve Ingham said in a statement: "We delivered a strong performance in the first half of 2010, driven largely by greater permanent recruitment activity as confidence levels improved, leading to higher rates of job churn.

"In the UK, continental Europe and North America, we have experienced improvements in job flow in virtually all markets," he added.

Job levels in the UK were largely flat, the company said and the improved job confidence and turnover over staff was largely seen in Asia and South America, where the company has sought to expand its business.

Michael Page said there was evidence job market conditions in the United States were steadily improving and gross profit in the region was up by 29 per cent.